Cash-Out Refinance on 2-4 Unit Buildings in Brooklyn, Queens & North Jersey
You're sitting on $200k-$500k+ in equity. Let's pull it out so you can buy your next building. DSCR or bank statement — no tax returns required.
Joe Pisa
Founder & Senior Loan Officer
NMLS #139369
"If Rocket, Chase, or your local credit union just crushed your dreams because of your credit score, self-employed income, or because you want to count your Airbnb income — you're in the right place."
Hey, if you own a 2-4 unit in Brooklyn, Queens, the Bronx, or North Jersey — you're probably sitting on serious equity. The problem? Banks want 2 years of tax returns, and if you're a landlord who writes off depreciation, repairs, and every expense you can find, your 'income' on paper is garbage. We don't care about your tax returns. We look at the building's rental income (DSCR) or your bank deposits (bank statement program). Last month we closed a $920k bank statement deal in Bergen County for a landlord who wrote off $400k. We do this every week in the NYC metro.
Why We Close What Banks Deny
- Cash-out up to 80% LTV on 2-4 unit properties
- DSCR loans — qualify on rental income, not personal income
- Bank statement loans — 12 or 24 months, no tax returns
- Mixed-use properties accepted (retail/residential)
- No limit on number of properties you own
- Close in 21-30 days
Recent Closings in Brooklyn, Queens & North Jersey
These are real deals we closed. Banks denied them. We didn't.
3-family — bank statements, owner wrote off $400k on taxes
4-unit brownstone — DSCR cash-out, 1.3 ratio, pulled $380k equity
2-family — bank statement, self-employed contractor
Cash-Out Refinance Questions for Brooklyn, Queens & North Jersey
Real questions we get daily — with straight answers
Can I cash-out refinance my 2-family in Brooklyn without tax returns?
Yes. We use DSCR (rental income covers the payment) or bank statements (your deposits). No tax returns required for either program.
What's the maximum LTV for cash-out on a 2-4 unit in NYC?
80% LTV on primary residence, 75% on investment property. If your building is worth $1.5M and you owe $800k, you could pull out $400k+.
Do you finance mixed-use buildings in North Jersey?
Yes. Retail on the ground floor, apartments above — we do these regularly in Jersey City, Newark, Hoboken, and Bergen County.
What DSCR do I need for a 3-family in Queens?
1.0 DSCR minimum (rent covers payment). Most 2-4 units in Queens easily hit 1.2-1.4 DSCR with current rents.
Can I use the cash-out to buy another investment property?
Absolutely. That's what most of our investors do. Pull equity from one building to fund the down payment on the next.
What about properties in Hudson County or Essex County?
We close in Jersey City, Hoboken, Newark, East Orange, Montclair — all of Hudson and Essex County. These are some of our most active markets.
NorthStar Funding is a licensed mortgage broker. NMLS #139369. Equal Housing Lender. All loans subject to credit approval. Rates and terms subject to change without notice.